MasterCard and First Data, two of the most established payment providers in the world, are claiming that the future of POS sales belongs to contactless credit cards, according to cardratings.com.

During a panel discussion at the CTIA conference in Las Vegas, MasterCard and Pay First defended the future of the credit card in front of representatives of the banking, technology and communications industries.

On the opposing end was PayPal, who claimed that mobile applications will be the payment method of the future, like those in use at Starbucks.